Stem Cell Banking Market To Grow At A Cagr Of 20.2% From 2016 To 2021 While The Processing Services To Contribute Largest Share In The Stem Cell Biobanking Market

The global stem cell banking market is expected to reach USD
3.96billion by 2021 from USD 1.58 billion in 2016, at a CAGR of 20.2% from 2016
to 2021.The storage services segment is expected to contribute the maximumsh
are to the overall market in 2016.Advancements in cord blood preservation and
research in the field of stem cells for use as therapeutics are major factors
fueling the growth of this market.

The global Stem Cell Banking Market is
classified on the basis of type into cord blood and cord blood & cord
tissue. On the basis of services, the market is segmented into collection &
transportation, processing, analysis, and storage. The major applications of
stem cell banking include cerebral palsy, leukemia, thalassemia, anemia,
autism, diabetes, and others. Among these applications, stem cells are mainly
used for the treatment of cerebral palsy.

The storage services segment is
estimated to command the largest share in 2016 and the forecast period. North
America is the major market for this segment. The high share of the storage
services segment can be attributed to the high cost of the equipment required
for the storage of cord blood and cord tissue, in turn increasing the per-year
cost of maintenance of the sample units.

“Processing services to contribute largest
share in the stem cell biobanking market”

The processing services segment
is estimated dominate the market, by service type, in 2016 and the forecast
period. North America is the major market for this segment. The large share of
the storage services segment can be attributed to the high cost of the
technology and equipment required for the processing of cord blood and cord
tissue, in turn increasing the per-year cost of maintenance of the sample units.

Earlier, semi-automated
centrifuges, such as AXP Auto Xpress from Thermo genesis and Compomat from
Fresenius Kabi (India) were used to separate blood components. However,
companies are now focusing on updating technology to deliver high-quality
products. For instance, Cordlife (Singapore) used Sepax, a fully automated
closed system, in 2013, which has now become an industry standard followed by
companies globally. In all the cases, the buffy coat is stored in single
compartment cryobags.

“North
America is the largest contributor to the global stem cell banking market,
while Asia-Pacific is the fastest-growing market segment”

The U.S. is the largest segment
of the North American market. This market is witnessing a shift in the
preference from public to private banks. Parents are increasingly looking to storing
their children’s cord blood and tissue in private banks because of the
possibility that samples in public banks may be given to other people for
transplants or to research organizations. In the Asia-Pacific, market growth
will be driven by the rising number of newborns and the low prices of storage
services.

Stem Cell Banking Market, By Region Introduction,
North America, North America, By Country, North America, By Type, North
America, By Service, North America, By Application, Europe, Europe, By Country,
Europe, By Type, Europe, By Service, Europe, By Application, Asia-Pacific, Asia-Pacific,
By Country, Asia-Pacific, By Type, Asia-Pacific, By Service, Asia-Pacific, By
Application, Rest of The World (RoW), Rest of the World, By Type, Rest of the
World, By Service, Rest of the World, By Application